Corporate Profits Rise 1.6%

At an annual rate of $1.930 billion, after-tax corporate profits rose a year-on-year 1.6 percent in the first quarter, down from 11.2 percent growth in the fourth quarter. When including inventory valuation and consumption adjustments, after-tax profits of $2.003 trillion were up 1.9 percent. Taxes on corporate income, at $242.0 billion and which are calculated on this basis, rose 14.2 percent from a year ago.